Market Updates
Australian Stocks Rebound, Aussie Dollar Struggles
Marcus Jacob
30 Sep, 2014
New York City
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Australian stocks advanced and a rebound in banks led the gainers. Aussie dollar traded near its yearly low. Recall Holdings soared on takeover speculation.
[R]5:00 PM Sydney, Australia – Australian stocks advanced and a rebound in banks led the gainers. Aussie dollar traded near its yearly low. Recall Holdings soared on takeover speculation.[/R]
Australian stocks picked up the momentum in the afternoon after banks led the gainers.
Australian dollar traded at 87.59 U.S. cents and in stock trading turnover jumped to 782 million shares worth $4.71 billion.
ASX 200 index gained 28.60 or 0.5% to 5,292.80 and the broader All Ordinaries index increased 27.20 to 5,296.80.
For the month, ASX 200 plunged 6% and for the quarter declined 2%.
Stocks in Review
Lend Lease Group slipped 0.4% to $14.34 after the property and infrastructure developer secured $5.3 billion contract to construct a 6.6 kilometer link that includes twin 4.4 kilometer three-lane tunnels.
The financial terms are expected to be finalized in October.
Liquefied Natural Gas Limited climbed 4.5% to $4.15 and the oil and gas explorer appointed Mike Mott as chief financial officer.
Recall Holdings Ltd surged 11.6% to $5.60 on reports that the data protection service provider is on target for acquisition by American data management company Iron Mountain.
Annual Returns
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Earnings
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